Guideline Value for L.K.B Nagar

L.K.B Nagar guideline value

The current guideline value of L.K.B Nagar is Rs 880 per sq.ft, effective from 1 July 2024. This locality is situated in Agraharam Vada village, under the Poonamallee SRO, and is classified as Residential Special Type - I.

How the guideline value of L.K.B Nagar has changed

Over the years, the guideline value for L.K.B Nagar has seen several revisions. The 2012 revision set the value at Rs 1,000 per sq.ft, which was then reduced to Rs 670 per sq.ft in 2017. Following this, the value increased to Rs 800 per sq.ft in 2023, and the most recent revision in 2024 has brought it to Rs 880 per sq.ft. The register has no figures for the years 2002, 2003, and 2007.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, there was an increase of 19%. The latest change from 2023 to 2024 reflects a 10% increase. Overall, from 2012 to 2024, there has been a decrease of 12% in the guideline value.

Guideline values in Agraharam Vada

In Agraharam Vada, there are 17 streets under the Poonamallee SRO that carry a 2024 guideline value ranging from Rs 660 to Rs 1,650 per sq.ft. The median value is Rs 880 per sq.ft, which is the same as L.K.B Nagar's current guideline value.

• Lakshmipuram: Rs 880 per sq.ft (2024)
• Manickam Nagar: Rs 880 per sq.ft (2024)
• Manickam Nagar Extn: Rs 880 per sq.ft (2024)
• M.S.Nagar: Rs 1,650 per sq.ft (2024)
• Ms Nagar 47/2a: Rs 1,100 per sq.ft (2024)
• M.S.V Nagar: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in L.K.B Nagar

For a 1,000 sq.ft plot at the current rate of Rs 880 per sq.ft, the guideline value would be Rs 8,80,000. The stamp duty at 7% would amount to Rs 61,600, and the registration fee at 2% would be Rs 17,600, bringing the total to Rs 79,200. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers L.K.B Nagar?

The Sub Registrar Office that covers L.K.B Nagar is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Agraharam Vada

The guideline value plays a crucial role during the registration of property transactions in Agraharam Vada. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value is used to calculate the stamp duty, which is charged at a percentage of the guideline value or the sale price, whichever is higher. This ensures transparency and standardization in property transactions within the area.

Frequently asked questions

What is the current guideline value of L.K.B Nagar?

The current guideline value of L.K.B Nagar is Rs 880 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, then to Rs 800 per sq.ft in 2023, and finally to Rs 880 per sq.ft in 2024.

What is the land classification of L.K.B Nagar?

L.K.B Nagar is classified as Residential Special Type - I, indicating its suitability for residential purposes.

Where is the Poonamallee Sub Registrar Office located?

The Poonamallee Sub Registrar Office is located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056.

How is stamp duty calculated for properties in L.K.B Nagar?

Stamp duty is calculated based on the guideline value or the sale price of the property, whichever is higher. For example, on a property with a guideline value of Rs 8,80,000, the stamp duty at 7% would be Rs 61,600.